Banner House Inc. gives all its sales people a base salary of $37,000 per annum and a commission of 15% on all banners that they sell over $4,000. Calculate Jenna's salary last month if he sold $8,000 worth of banners.
Q: Sandhill Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base rate of…
A: The net income is calculated as excess of service revenue over costs incurred.
Q: Davy Johnson is CFO for a newly formed manufacturing company. Below is the anticipated monthly…
A: in feb no. of pounds used in production × per pound cost 2500 ×10= 25000 in march 6000 ×10 = 60000…
Q: Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential…
A: A budget is the statement of expected future expenses and revenues for a specific period of time.…
Q: Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential…
A: Budget is a statement prepared to know the estimated values of different line items in an…
Q: Davy Johnson is CFO for a newly formed manufacturing company. Below is the anticipated monthly…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: Assume you are a salesperson earning 10 percent commission and you have sold $540,000 in products…
A: The conceptual formula used:
Q: Raffy receives Php 12,000 a month corresponding to a sales of Php 20,000 worth of goods.…
A: Solution Given terms Raffy receives Php 12,000 a month corresponding to a sales of Php 20,000 worth…
Q: It costs Homer's Manufacturing $0.75 to produce baseballs and Homer sells them for $7 a piece. Homer…
A: Working note:
Q: Classical Glasses operates a kiosk at the local mall, selling s unglasses for $30 each. Classical…
A: Break Even Point: Break Even Point is defined as the level where there is no profit and loss. It is…
Q: Toselli Animation plans to offer its employees a salary enhancement package that has revenue sharing…
A: Working note:
Q: 1. Determine the monthly transaction price that Jonas should use for recording the contract and…
A: Jonas is paid $10,000 per month as per contract. Using the most likely approach, we assume that…
Q: 9. Mohammed AI Harthi owns the Barber Shop. He employs five barbers and pays each a base rate of…
A: Selling price is a price set by the supplier at which he is ready to sell his goods. The cost that…
Q: Vin Diesel owns the Ayayai Barber Shop. He employs 6 barbers and pays each a base rate of $1,330 per…
A: We have the following information: 6 employees and salary of each barber: $1,330 per month…
Q: Elliott, Inc., has four salaried clerks to process purchase orders. Each clerk is paid a salary…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: It costs Homer's Manufacturing $0.95 to produce baseballs and Homer sells them for $8.00 a piece.…
A: Formula: Contribution margin = Sales revenue - variable cost.
Q: Caroline, the owner of Caroline’s Boutique, estimates that she will sell P300,000 worth of certain…
A: When a firm orders items from the vendor on regular basis, it has to incur various types of costs…
Q: 75 Slabs International is in the building construction business. In 2019, it is expected that 40…
A: Budget refers to the statement prepared by the government, individuals, and companies based on the…
Q: If Romeo's Racket Ball business has sales for the month of 10,000 racketballs and a racketball sells…
A: To derive accounting profit, all the expenses that are directly a part of company's operations are…
Q: Sephora offers its customers a traveller's gift set as a premium in exchange for $ 40 if the…
A: Journal entry is the first step in the process of accounting, which is recording of financial data…
Q: Toselli Animation plans to offer its employees a salary enhancement package that has revenue sharing…
A: Calculation of Annual worth of 5 year package: Answer: Annual worth of 5 year package is $60,163.43
Q: Green Tees, an on line retailer of t-shirts, orders 100,000 t-shirts per year from its manufacturer.…
A:
Q: Francois French manufactures cheese, which he normally sells at €20/kg, on which sales commission of…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: A business plans to manufacture 2,000 watches a month, each taking 0.5 labour hours to produce. What…
A: The company plans to manufacture 2000 watches consuming 0.5 labor hours per watch. To find- Total…
Q: Lila battle has determined that the annual demand for number 6 screws is 100,000 screws. Lila, who…
A: Economic Order Quantity(EOQ) shows quantity of goods at which ordering cost and holding/carrying…
Q: Mr. Ahmed works in a bakery which operates 6 days a week, 52 weeks a year. The bakery needs flour…
A: Cost is the total expenditure incurred in an organisation during an accounting year. It includes…
Q: Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential…
A: Budgeting seems to be a technique used mostly by businesses to make comprehensive forecasts of…
Q: A home gods retailer offers a sales incentive program where customers receive credit towards future…
A: Revenue Allocated to Sales: To put it another way, direct costs comprise all of the labor and…
Q: Repair Shop Co. provides electronic repairs and has the following budget for next year: Repair…
A: The time rate is calculated on the basis of the number of hours used for repairs. Loading charge is…
Q: Lia ITZY has determined that the annual demand for number 6 screws is 100,000 screws. Lia, who works…
A: Solution:- i)Calculation of average inventory as follows under:- Average inventory = EOQ / 2
Q: Big Red Motors, Inc., employs 15 sales personnel to market its line of luxury automobiles. The…
A: If a business has two alternatives of doing something, then it should select that alternative which…
Q: Mike receives a monthly salary of 22,500 pesos. He anticipates that his total sales for this month…
A: Here in this question, we are required to calculate gross income for the month for Mike. Gross…
Q: Vin Diesel owns the Fredonia Barber Shop. He employs four barbers and pays each a base rate of…
A:
Q: Kevin’s Totes sells hand-made tote bags for $10 each. Tammy’s variable costs are $6 per bag and her…
A: Desired profit before tax = Net income / (1-tax rate) =6100/(1-0.20) = $7,625
Q: that writes term papers for college students, provides 11-page term papers from a list of more than…
A: The question is related to Capital Budgeting. The inital investment is $20000.
Q: s salary last month
A: Value of sales $11000 Amount of sales over $5000 = $11000 - $5000 (A) $6000 Rate of commission…
Q: 2. Matt is a Product Manager earning a semi-monthly salary of P5 500. He is given commission of 2.5%…
A: The gross earnings of the employees represent the total income before accounting for any deductions…
Q: Classical Glasses operates a kiosk at the local mall, selling s unglasses for $30 each. Classical…
A: Contribution Margin: It is defined as the difference between the sales and the variable cost. In…
Q: An orchardist pays apple pickers $10 per hour plus $8 per $100kg of apples picked. If workers pick,…
A: Amount paid to apple picker per hour is $10 Additional amount per 100 kg is $10 Average apple picked…
Q: ABC Quezon Avenue, Inc. is a dealer of trucks and automobiles. ABC distributes annual bonuses to its…
A: Total bonus % = 3% to Vice president + 1% each to division managers = 3% + 1% x 3 = 6%
Q: Davy Johnson is CFO for a newly formed manufacturing company. Below is the anticipated monthly…
A: Particulars Purchasing Activity (Month prior to production) Total Pounds used in Production (A)…
Q: One of the employees of Gokul Dairy, Vishnu Jagannath works for 38 hours in a week, and is paid on…
A: In Gain Sharing bonus plan, bonus is paid on the productivity. No bonus is paid as Vishnu Jaganath…
Q: ABC Quezon Avenue, Inc. is a dealer of trucks and automobiles. ABC distributes annual bonuses to its…
A: Total bonus % = 3% to Vice president + 1% each to division managers = 3% + 1% x 3 = 6%
Q: How much should the vice president and each division manager receive, respectfully, if the vice…
A: If the vice president gets 3% and each division manager gets 1% of profit after bonuses but before…
Q: John’s Publishing Company, a new service that writes term papers for college students, provides…
A: Honor code: Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: How much more does a straight commission employee make than the graduated commission employee for…
A: The commission is a payment received in return for the sales quantity achieved. Straight Commission…
Q: ABC Quezon Avenue, Inc. is a dealer of trucks and automobiles. ABC distributes annual bonuses to its…
A: Total bonus % = 3% to Vice president + 1% each to division managers = 3% + 1% x 3 = 6%
Banner House Inc. gives all its sales people a base salary of $37,000 per annum and a commission of 15% on all banners that they sell over $4,000. Calculate Jenna's salary last month if he sold $8,000 worth of banners.
Step by step
Solved in 3 steps
- Maria Cohen is employed as a salesperson in the mens department of Lees Fashions. In addition to her weekly base salary of 400 (35-hour week), Cohen is paid a commission of 1% on her total net sales for the week (total gross sales less any customer returns). During the past week, to promote the sale of its fine cashmere sweaters, Lees agreed to pay Cohen an additional PM (push money) of 3% of the total net sales of cashmere sweaters. Cohens weekly sales tally is given below. Compute Cohens total weekly earnings, showing her (a) weekly base salary, (b) commission, (c) PM, and (d) total weekly earnings.Elliott, Inc., has four salaried clerks to process purchase orders. Each clerk is paid a salary of 25,750 and is capable of processing as many as 6,500 purchase orders per year. Each clerk uses a PC and laser printer in processing orders. Time available on each PC system is sufficient to process 6,500 orders per year. The cost of each PC system is 1,100 per year. In addition to the salaries, Elliott spends 27,560 for forms, postage, and other supplies (assuming 26,000 purchase orders are processed). During the year, 25,350 orders were processed. Required: 1. Classify the resources associated with purchasing as (1) flexible or (2) committed. 2. Compute the total activity availability, and break this into activity usage and unused activity. 3. Calculate the total cost of resources supplied (activity cost), and break this into the cost of activity used and the cost of unused activity. 4. (a) Suppose that a large special order will cause an additional 500 purchase orders. What purchasing costs are relevant? By how much will purchasing costs increase if the order is accepted? (b) Suppose that the special order causes 700 additional purchase orders. How will your answer to (a) change?Olin Company manufactures and distributes carpentry tools. Production of the tools is in the mature portion of the product life cycle. Olin has a sales force of 20. Salespeople are paid a commission of 7 percent of sales, plus expenses of 35 per day for days spent on the road away from home, plus 0.50 per mile. They deliver products in addition to making the sales, and each salesperson is required to own a truck suitable for making deliveries. For the coming quarter, Olin estimates the following: On average, a salesperson travels 6,000 miles per quarter and spends 38 days on the road. The fixed marketing and administrative expenses total 400,000 per quarter. Required: 1. Prepare an income statement for Olin Company for the next quarter. 2. Suppose that a large hardware chain, MegaHardware, Inc., wants Olin Company to produce its new SuperTool line. This would require Olin Company to sell 80 percent of total output to the chain. The tools will be imprinted with the SuperTool brand, requiring Olin to purchase new equipment, use somewhat different materials, and reconfigure the production line. Olins industrial engineers estimate that cost of goods sold for the SuperTool line would increase by 15 percent. No sales commission would be incurred, and MegaHardware would link Olin to its EDI system. This would require an annual cost of 100,000 on the part of Olin. MegaHardware would pay shipping. As a result, the sales force would shrink by 80 percent. Should Olin accept MegaHardwares offer? Support your answer with appropriate calculations.
- Cadre, Inc., sells a single product with a selling price of $120 and variable costs per unit of $90. The companys monthly fixed expenses are $180,000. What is the companys break-even point in units? What is the companys break-even point in dollars? Prepare a contribution margin income statement for the month of October when they will sell 10,000 units. How many units will Cadre need to sell in order to realize a target profit of $300,000? What dollar sales will Cadre need to generate in order to realize a target profit of $300,000? Construct a contribution margin income statement for the month of August that reflects $2,400,000 in sales revenue for Cadre, Inc.1. Banner House Inc. gives all its sales people a base salary of $39,000 per annum and a commission of 8% on all banners that they sell over $5,000. Calculate Courtney's salary last month if she sold $11,000 worth of banners. 2. Patrick, a sales representative at a jewelry store, receives a 2.00% commission for the first $10,000 in sales she makes, 4.00% for the next $30,000, and 6.00% thereafter. If she was paid $2,500.00 in commissions last month, calculate the amount of sales she made. 3. Jesse works for a clothing boutique store as a salesperson. She receives a monthly base salary of $900 and earns a commission on sales over $20,000. If she earned $8,000 last month and she made $110,000 in sales, calculate her commission rate.Len-Len is a saleslady who has a monthly salary of ₱22,500. Her total sales for the month amount to ₱65,000. How much is her GROSS INCOME for the month: a) if each product costs ₱520 and he is paid ₱46 for each product he sold? b) if she is paid 8% of sales up to ₱50,000, 12% of the next ₱30,000.00 and 15% of sales beyond ₱80,000.00?
- Jacob is a salesman who receives a $1,100 a week. he receives a 12% commissions on all sales. sales for jacob were 205,000 for the month. Assuming a four week month, Jacob's final commission after the draw for the month is?Sharon is a manufacturer's representative selling office furniture directly to businesses. She receives a monthly salary of $2000 plus a 2.2% commission on sales exceeding her quota of $150,000 per month. a. What are her earnings for a month in which she has $227,000 in sales? (Round your answer to the nearest cent.) Earnings = b. If her average monthly sales are $235,000, what straight commission rate would generate the same average monthly earnings as her current basis of remuneration? (Round your answer to four decimal places.) Commission rate =Ian’s gross monthly salary is $9,696 on net sales totalling $92,746. If her base salary is $1,550 per month, what is her percent rate of commission on sales exceeding her quota of $21,000?
- Crystal’s gross monthly salary is $9,797 on net sales totalling $114,641. If her base salary is $1,250 per month, what is her percent rate of commission on sales exceeding her quota of $28,000?Sergio has a chance to work at one of two firms. Scantor will give him a salary of 700 a month, a commission of 3% on total monthly sales, and a 3% more on monthly sales over 70,000. Fletcher offers him a commisiion of 2.5% on the first 45,000 of monthly sales, 4%, on the next 20,000 of monthly sales and 7% on all montlhy sales over 65,000. If Sergio could average 90,000 in sales a month at either job, at which job could he earn more per month, and how much more?Wendy Epstein, a sales representative, earns an annual salary of $32,700 and receives a commission on that portion of her annual sales that exceeds $150,000. The commission is 9.5% on all sales up to $50,000 above the quota. Beyond that amount, she receives a commission of 11.0%. Her total sales for the past year were $290,000. Compute the following amounts: a. The regular annual salary $ b. The commission $ c. The total annual earnings $